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Poland Adopts 2020 Budget

Friday, September 27, 2019

On September 24, 2019, the Polish Government adopted the draft Budget for 2020, which takes into account recent reductions in personal income tax.

According to the Ministry of Finance, on the revenue side, the 2020 Budget factors in the following personal income tax measures:

  • the income tax exemption on the first PLN85,528 (USD21,400) of earnings from work and employment contracts for those under the age of 26, effective August 1, 2019;
  • the reduction in the lowest income tax bracket from 18 to 17 percent, effective October 1, 2019; and
  • the increase in employee tax deductible costs, also effective from October 1, 2019.

According to the Government, the 2020 Budget is the first balanced budget since 1990.